Opportunities to Expand Economic Cooperation with Italy Discussed

Meetings held during Minister of Economy Mikayil Jabbarov’s working visit to Italy focused on the development of partnerships in industry, trade and investment.

As part of his working visit to Italy, Minister of Economy Mikayil Jabbarov met with Adolfo Urso, Italy’s Minister of Enterprises and Made in Italy. The meeting included an exchange of views on expanding industrial, trade and investment ties, the activities of Italian companies in Azerbaijan, and the promotion of new joint projects. The opportunities offered by Italy’s technological and engineering expertise for the development of Azerbaijan’s non-oil and gas industry were highlighted.

The parties explored the potential for cooperation in mining and metallurgy, critical minerals, artificial intelligence and digital infrastructure. The importance of expanding business ties to modernize production, facilitate technology transfer and manufacture higher value-added products was emphasized. Prospects for cooperation with Italian financial and investment institutions to support joint projects were also discussed.

At a meeting with Claudio Descalzi, Chief Executive Officer of Eni, the parties discussed the development of cooperation between the company and SOCAR. Opportunities for SOCAR to participate in new initiatives with Eni, as well as to expand existing cooperation on joint projects in third countries, were explored. The discussions also covered progress on a joint pilot project for biofuel production in Azerbaijan and prospects for cooperation in the energy transition and the exchange of technological expertise.

It should be noted that Eni, an international energy company based in Italy, operates in countries around the world in oil and gas exploration and production, refining and sales, while also implementing projects in renewable energy, biofuels and carbon emissions reduction.